GBPUSD SHORT
_____ Technically ______
1. Big Bearish Divergence played out on a bigger TF
2. Trendline Cracked
3. Traffic Pattern FIB Retracement to 61.8% and continuation towards the targets
4. Bearish Trend Continual after a swing high on a Larger TF (D,W)
_____ Fundamentally _____
1. The Bank of England is forecasting a recession in the UK starting in the fourth quarter and lasting for five quarters.
2. RISK-ON Asset and Safe Heaven Flows Because The geopolitical tension between the U.S. and China is not good (Dollar Being the Global Reserve currency and a Safe Heaven , Dollar being bid by investors)
3. The Fed raised rates in May, June, and July, and is anticipated to raise rates in September, November and December as well.
4. The US Job Market is booming, NFP print showed a booming economy as people getting jobs and they are spending while benefitting to businesses. According to the Bureau of Labor Statistics, nonfarm payroll employment has increased by 22 million since reaching a low in April 2020.
1. Big Bearish Divergence played out on a bigger TF
2. Trendline Cracked
3. Traffic Pattern FIB Retracement to 61.8% and continuation towards the targets
4. Bearish Trend Continual after a swing high on a Larger TF (D,W)
_____ Fundamentally _____
1. The Bank of England is forecasting a recession in the UK starting in the fourth quarter and lasting for five quarters.
2. RISK-ON Asset and Safe Heaven Flows Because The geopolitical tension between the U.S. and China is not good (Dollar Being the Global Reserve currency and a Safe Heaven , Dollar being bid by investors)
3. The Fed raised rates in May, June, and July, and is anticipated to raise rates in September, November and December as well.
4. The US Job Market is booming, NFP print showed a booming economy as people getting jobs and they are spending while benefitting to businesses. According to the Bureau of Labor Statistics, nonfarm payroll employment has increased by 22 million since reaching a low in April 2020.
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